Wednesday, April 10, 2019

Former TPG Partner McGlashan Faces New Charges In College Admissions Scandal

William "Bill" McGlashan, the former head of TPG Growth, the growth fund of TPG Capital, and who also had headed its "impact" fund, The Rise Fund, is facing new charges in the widespread college admissions and bribery scandal. According to a report from Bloomber, McGlashan is now facing a new charge of money laundering, on top of an existing charge of conspiracy to commit fraud. McGlashan is among a set of 16 parents who were indicted Tuesday with additional charges after failing to reach plea deals with prosecuters. McGlashan is accused of paying $50,000 in bribes to a college counselor--which was written off as a charitable donation--to get his son into the University of Southern California as a sports recruit. McGlashan was fired by TPG shortly after news of the original charges against McGlashan were announced.